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AUD/CAD to be defined by broadening wedge pattern

Aud/Cad has broken out of a weekly channel pattern to the downside
but seems now supported by a bearish trendline after a first retest of the lower border of said channel
On the weekly chart we can see this price action, the channel and the trendline
We also see that MACD is bearish, and RSI is low - there may be a reversal coming soon after these lows
Aud/Cad weekly chart
On the daily chart we see a contradiction in the MACD and RSI,
where RSI is low here, too, but MACD has become a bullish sig…
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AdamFx42 avatar
AdamFx42 19 Oct.

This prediction is playing out as I expected:
The broken weekly trendline has been retested, and it has held the price below
which has set the basis for the newly formed wedge pattern -

AdamFx42 avatar
AdamFx42 30 Oct.

Pair has tried to break back into the weekly channel but has failed - indicating that the weekly trendline lower border is indeed holding the price below
Lower border of trendline down = lower border broadening wedge pattern has acted as support,
so we are indeed inside the broadening wedge pattern now

AdamFx42 avatar
AdamFx42 5 Nov.

Price has bounced off the broken weekly trendline I mentioned and is moving down to the lower border
of the broadening wedge pattern - to lower border/daily support line

AdamFx42 avatar
AdamFx42 10 Nov.

Price remains inside pattern as 0.97 turns to support now - low in place for the moment
Price slowly moving above 0.98 towards prediction area

AdamFx42 avatar
AdamFx42 15 Nov.

Price is still following my prediction to the letter and I am on target now
upper border of the broadening wedge is holding the price below 0.99 for now,
and support is building up around 0.98

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